According to sources, after the US regulatory agency agreed to fully revise the proposed package of rules, the capital increase requirements faced by eight large US banks, including Bank of America and JPMorgan, will be halved, from 19% to 9%. Significantly lowering capital requirements is more likely to appease the banks, which launched one of the most intense lobbying activities after the proposal was introduced last year. The revised draft may also help Federal Reserve Chairman Powell achieve his goal of broad support from the Federal Reserve Board. Powell has made it clear to the banks that he also wants to avoid a lengthy legal battle. Vice Chairman Quarles, responsible for regulatory oversight at the Federal Reserve, plans to brief on these changes in his speech on Tuesday. (Bloomberg)